Industry

 

The Uganda insurance market has shown positive growth trends over the past five years, thanks to  favourable investment climates that have encouraged several foreign players to join the market. The industry currently boasts of 29 licensed insurance companies, of which 21 are General (Non-Life) insurance companies, 6 Life companies and one Reinsurance Company. As at September 2014,all the Composite Companies separated in to single line businesses.

 

The industry has 26 licensed insurance brokerage companies, 1 reinsurance broker, 21 Loss Assesors, Surveyors and Adjusters and 13 Health Membership Organizations (HMOs).

 

Regionally, Kenya remains the market giant with a penetration level of 3.2% and recorded gross written premium of Ksh 130.65 billion in 2013. Penetration in Uganda stands at 0.85% (2013).